OrbiMed closes third Asia fund at $551M

On Sept. 5, OrbiMed Advisors LLC (New York, N.Y.) closed OrbiMed Asia Partners III at $551 million, well above the firm's second Asia-focused healthcare fund, which closed in 2014 with $325 million.

OrbiMed's Carter Neild told BioCentury that like its previous Asia-focused funds, the new fund will focus on growth stage companies in China and India. Investments are expected to be evenly split among therapeutics, services and medtech/diagnostics companies...